The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-09-20
CONDITION OF THE MARKETS
Wheat Opens Weak, Fluctuates in a Mar
row Range, and Closes Trife Higher.
Corn Opens at Lower Prices than Those of
Saturday, but the Closing Shows Small
Advance-Light Trading in Provisions.
MONEY, BONDS AND STOCKS.

An Active but Decidedly Weak Market,
Everything Being Lower.
NEW YORK, Sept. 19-Money on call was
easy. ranging from 406 per cent, the last
.oan being made ct 6, and closing offered at 6
per cent
Prime mercantile paper, 70s per cent.
Sterling exchange was quiet but sesdy at
a. so for sixty days and 81 8404 644c for demand.
The total sales OF stocks were $50. 359
shares. including the following: Delaware.
~sIIackawanna 81 Western, % 800; Erie, 10000;
Lake Shore. 1920; Louisville 81 Nashville.
IL, 235;. Missouri Pacific. 1892 Northwestern,
10. 1s0 New Jersey Central. 4,425; Northern
Pacific preferred, 1925; Oregon Transconti-
mental. 4.735; Pacific Mail, 6,605; Reading 81
700; St Paul, 22,9s5; st. Paul g. Omaha, 1920;
Texas Pacific, 1855; Union Pacific, 9,795;
Western Union. g. 325.
The new week at the Stock Exchange opened
with a fairly active but decidedly weak market.
and the n ct declines for the day were in many
cases large as for the entire week past. There
was dearsh of news TO affect values, the ad-
vices that some OF the mine owners had refused
to treat with their men and the report of the St.
Paul. showing another decrease in earnings,
being the principal items. The uneasiness
sulting from the fear of tight money, however.
was worked by the "bears throughout the day,
and Notwithstanding the fact that money was
plentiful on call at 5 as per cent, the sentiment
above referred to induced free selling OF 'iong"
stock, and the traders improved the
opportunity to hammer prices all along
the line. The pressure was almost continuous
throughout the day, and no reaction worthy of
name occurred, while the coal stocks, grangers,
Northern Pacifcs and Western Union paid
special attention indifferent times. Richmond &
West Point was remarkably weak in the last
hour, and Hooking Valley broke points,
though part of this was recovered, and several
other specialties made equally large drops. The
opening Wa weak at declines from Saturdays
final figures, which ranged up to X per cent,
,1he latter in Northern Pacific preferred. There
was no halt in the downward movement, how
aver, and further losses from to 4 per cont
were made during the first hour, but
when the decline was checked prices remained
,atagnant, and before noon another decline of
from a IL per cent. brought about After
that time there was some little improvement in
fgures. but al per cent. was the extent Of the
gains recorded, and before delivery hour these
were again wiped out A final drive was made
against the list in the last hour. and the market
yielded even more rapidly than before. The
lowest figures made at the close, which
was fairly active and weak. Everything ia
lower; the most important declines comprise
Northern Pacific preferred, 81; Richmond g.
West Point, 81; Texas Pacific, 81; Omaha 81;
Western Union, 2f; Colorado Coal q; Lake
Erie g Western preferred and Michigan Central,
III; Missouri Pacific and Wheeling and Lake Erie,
RI: New England. %.
Railroad bonds were dull; sales, $777, 900. Ches-
Rpeake 81 Ohio, series A, lost g. to 1884; Hooking
Valley fives. s, TO e. the SKIES, q to sc; New York
Lake Erie e. Western frsts, 81, to 125; Fort
pixes "a, to 6SA; Oregon fives, 2. to 80: Texas
Pacific income receipts, 2. to 45; Iron Mountain
lives, 81, to "a; L. b. 80 w. income receipts, 2,
TO 20.
Government bonds were dull and heavy.
State bonds were dull and without feature
-kAes z~nm